Leases of single-family rentals increased 7.7% in Houston last month, according to the latest Rental Market Update from the Houston Association of REALTORS®.
Renters signed 4,602 SFR leases in May, up from 4,272 during the same month in 2024.
That increase was accompanied by a year-over-year inventory boost as new SFR listings jumped 17.1%.
Meanwhile, the average lease price stayed nearly the same as last May at $2,349, up only $1 year over year.
“The stable pricing and expanded inventory make the rental search more manageable and offers predictability in budgeting,” commented HAR Chair Shae Cottar. “As potential homebuyers navigate some economic uncertainties, many are continuing to choose to rent for greater flexibility and affordability.”
Amid increased options, the typical SFR stayed on the market for 39 days, four days longer than in May 2024.